CEO interview

Michael Cutter, Senior VP of Sales & Marketing, Bionime Corporation

  • Give us a brief about yourself. How did you come to work in healthcare?
    My first job out of college was with a Health Maintenance Organization (HMO). At that time, I had never heard of an HMO.  The concept of capitation and various HMO models were just evolving in the USA.  My role was to recruit physicians and to explain the capitation model, which was also very new to healthcare professionals.  Since then, I have worked with both large and small medical device companies with a primary focus of building and leading sales teams in the diabetic category in both the trade and healthcare professional channels.
  • What do you think is currently driving the healthcare industry forward, both in the Americas as well as globally?
    The healthcare industry is currently seeing a shift to digital health innovation, which includes a more holistic approach to healthcare from a data management perspective to effectuate the improvement of lifestyles that will translate into more productive employees, healthier patients, and improved quality of care for all those impacted. To compete in the current digital transformation, it is necessary to provide a virtual healthcare system that presents a solution that incorporates the entire healthcare ecosystem.  There is also a focus on product “features and benefits” to offering a value-based care solution.
  • What are the major healthcare market segments that are likely to expand in the coming year, and why is this so?
    Value-Based Data Management is a key market sector that will continue to see explosive growth.  Healthcare organizations are seeking to provide unified platforms to integrate, manage and deliver intuitive views to all value chain partners to promote better care and outcomes.  This applies to both the public and private sector.  The analytics rendered are as only as good as the data that goes into them, and likewise, perfect data is not useful without an open platform that provides a solution to all value chain members, whether it is the healthcare professional, managed care organization or manufacturer.

    There will continue to be a need for innovation in this period of digital transformation.  Successful value-based models will include the transitioning from a cost-effective economic approach to a treatment/outcomes model that is data-driven and sustainable for providers, payers, ad patients.

    Managing expenditures will continue to be a critical component of the healthcare industry, but managed care organizations, healthcare companies and employers alike are all evaluating the reduction of healthcare costs from a long-term perspective versus short-term cost savings.
  • What are the technological, medical and strategic innovations that your company brings to the healthcare arena? 
    In 2018, Bionime introduced “Rightest CARE”, which is  an integrated digital diabetes management platform that connects individual patients and professional caregivers in a simple, smart, precise and cost-efficient way.

    Equipped with 3Q Eco-informatics Service Technology (Qualified Test, Qualified Data and Qualified Delivery), “Rightest CARE” automatically builds an electronic record for every blood glucose measurement from the individual and provides real-time synchronization to every healthcare professional or institution that is authorized by the patient.  Our software has enabled us to achieve integration of information exchange between patient-generated data and electronic healthcare records (EHR) without a time delay.

    “Rightest CARE” not only sufficiently reduces possibility of any human errors, but also effectively increases the accountability of blood glucose data.  At the same time, it allows multiple medical professionals to coordinate care, communicate clinical information, and deliver quick and safe treatment recommendations in a higher-quality and more personalized approach.  From the patient perspective, it helps individuals to better manage their chronic disease.

    In the end, all stakeholders benefit from the “Rightest CARE” program.
  • What new products will you be showcasing at FIME 2019? 
    Bionime will be introducing our newest version of the “Rightest Care” - Diabetes Management System.  Although we take great pride in the highly accurate and precise blood glucose monitoring systems that we manufacture, our focus at FIME 2019 is showcasing our holistic solution that incorporates the entire healthcare ecosystem to improve the lives of people with diabetes while assisting healthcare professionals by providing real-time data, which in turn will play a role in reducing healthcare costs by providing a conduit to impact the prevention of long-term complications and reduction of hospital stays.

  • How would you evaluate the impact of FIME on the healthcare industry in the Americas?
    FIME is a convenient and cost-effective way for business leaders in the Americas to meet at a single location to gain business contacts and to learn more about what products and services are available globally.
  • What, according to you, are the opportunities available to healthcare and trade professionals who attend FIME?
    FIME is a tremendous event for healthcare and trade professional to learn more about   new and innovative products and services that are now available.  Healthcare and trade professionals can also take this opportunity to talk to exhibitors about suggestions regarding modifications and improvements of existing products, as well as proposing ideas about new products and services that may fill a need or solve a problem that is not currently on the market.  Also, due to the large number of attendees that come from such a diverse background, it is a fantastic place to network and learn from others.
  • What would you say are some of the most challenging aspects of your role?
    Adjusting to a paradigm shift in an industry that has seen very little change over the last 30 to 40 years.  Our core business has been to manufacture products.  We will continue to do so, but to compete in our industry, we need to approach the market in a completely new way.  Our challenge is to provide solutions in conjunction with our products.  Providing software solutions and working with healthcare organizations as part of an overall value chain partnership takes a different skill set and overall strategy. 
  • Could you shed light on your future plans? Are there any new products/services in the pipeline?
    Bionime is excited to be part of an evolving market.  For many years, we have focused on developing and manufacturing the some of the best blood glucose available in the world.  As a result of innovations and new technology, the methodology to measure and manage blood glucose results has changed.  Traditional blood glucose monitoring systems are declining in popularity.  With that being said, Bionime’s future is bright, because we have worked relentlessly on developing solutions that are much needed in the industry. In addition to our new Rightest Diabetes Software Management program, we will also be announcing several new products that will improve the lives of people with diabetes in the near future.  Stay tuned!
  • Anything else you would like to add?
    FIME is an important meeting for Bionime.  We look forward to meeting with our existing clients to discuss current and new business opportunities as well as meeting with many new potential partners.  Please come by our booth to discuss how we can work together!